Memery Crystal acts on admission to AIM of Focusrite Plc

Memery Crystal has acted for Panmure Gordon (UK) Limited in its role as nominated adviser and broker to Focusrite Plc in connection with Focusrite’s admission to AIM, as well as on a successful vendor placing which raised £22.4 million from institutional investors.

Admission took place on 11 December 2014, and Focusrite’s market capitalisation is £73.2 million.

Founded by former Led Zeppelin soundman Phil Dudderidge, Focusrite is a global music and audio products group supplying hardware and software products used by professional and amateur musicians. Headquartered in High Wycombe, the Group has a global customer base with a distribution network covering approximately 160 territories, as well as a marketing subsidiary in Los Angeles.

The Memery Crystal team included corporate partner Lesley Gregory, TMT partner Tim Ryan, corporate senior associate Melanie Jory, corporate solicitor Victoria Miller and corporate trainee Elizabeth Kilburn.

Lesley Gregory commented: “We are delighted to have assisted Panmure Gordon in relation to Focusritre’s successful admission to AIM and a successful vendor placing. There have been at least 20 IPOs by technology companies this year, demonstrating continued confidence in AIM as the market of choice for growth companies.”

Memery Crystal is a recognised leader for its AIM work, acting for smaller to medium-sized companies as well as for their nominated advisers and brokers, with particular strength in transactions with an international dimension. The firm has been ranked “Band 1” for AIM work by the Chambers UK legal directory, and is ranked among the top two law firms in the most recent edition of the AIM Advisers Rankings Guide based on total number of AIM clients (with 44 clients).